July 13, 2017
Air Zimbabwe lays off half its workforce amid financial woes
Zimbabwe's state-owned airline has laid off 200 workers, roughly half of its staff, with immediate effect. The job losses are part of a turnaround strategy to bring struggling Air Zimbabwe back to profitability from a $300m (£230m) debt. Last month…
July 4, 2017
LeEco chairman ‘has bank accounts frozen
The billionaire co-founder of struggling Chinese technology giant LeEco has had personal assets frozen by a Shanghai court, state media reports. Assets worth a combined 1.24bn yuan ($183m; £141m) belonging to Jia Yueting, his wife, and three…
July 3, 2017
China’s $9tn bond market opens up
A long-awaited scheme enabling foreign investors to buy and sell Chinese bonds has been launched. The Bond Connect programme is Beijing's latest attempt to open up its financial markets and attract foreign capital. China's $9 trillion bond market is…
June 30, 2017
Sweeping tax reform introduced in India
India has replaced its numerous federal and state taxes with the Goods and Services Tax (GST), designed to unify the country into a single market. The historic overhaul of the existing tax legislation was carried out at a special midnight session of…
June 28, 2017
Brexit ‘will blow hole in budget’, EU commissioner notes
The UK's departure from the EU will leave a budget shortfall of at least €10bn (£8.8bn; $11.4bn), the budget commissioner has warned. Günther Oettinger said the bloc must either spend less or find new money to fill the gap, equivalent to an…
June 27, 2017
Google hit by EU fine over Shopping service
Google has been fined 2.42bn euros ($2.7bn; £2.1bn) by the European Commission after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results.The amount is the regulator's largest…
June 23, 2017
Troubled Toshiba flags deeper losses
Ailing electronics giant Toshiba has said its losses for 2016 may be greater than it had previously forecast. It now predicts a net loss of 995bn yen (£7bn) for the year to March, up from its earlier estimate of 950bn yen. The firm was demoted to…
June 22, 2017
Qatar wants 10% of American Airlines
American Airlines has received an "unsolicited" approach from Qatar Airways which wants to acquire 10% of the US carrier. In a regulatory filing, American Airlines said Qatar intended to buy at least $808m (£638m) of its shares. American Airlines…
June 21, 2017
Guyana pleased with first rice crop for 2017
Guyana produced more than half a million tonnes of paddy in the first crop for this year with exports of the commodity totalling more than US$92 million, according to figures released by the Guyana Rice Development Board (GRDB) on Wednesday. The…
June 20, 2017
Barclays charged with fraud in Qatar
Barclays and four former executives have been charged with fraud over their actions in the 2008 financial crisis. The Serious Fraud Office case relates to the way the bank raised billions of pounds from Qatari investors enabling it to avoid a…